Korea Producer Price, Japanese Yen, Hang Seng index

Cryptocurrencies surged higher after FTX co-founder Gary Wang and Alameda Research CEO Caroline Ellison pleaded guilty to federal charges.

Bitcoin last added 0.15% in the past 24 hours to trade at $16,826, according to Coin Metrics. Ether rose 0.34% to $1,210.72.

Other digital coins such as Cronos and Cardano have also risen.

Former FTX CEO Sam Bankman-Fried, who faces eight federal felony charges, was arrested last week.

— Lee Ying Shan

Oil prices rose as the US looked ahead National Weather Service it is said to be “dangerously cold” for the next few days.

Brent crude futures rose 0.52% to $82.63 a barrel, while US benchmark West Texas Intermediate futures rose 0.64% to $78.79 a barrel.

On a broader scale, travel at the end of the year is expected to increase fuel consumption in aviation.

– Lee Ying Shan

Australian Foreign Minister Penny Wong and her Chinese counterpart Wang Yi agreed to continue discussions on trade and bilateral relations, according to a joint statement issued by Australia.

The meeting comes after a prolonged pause in talks when China introduced trade sanctions on Australian barley in wine in May 2020 in March 2021.

The two also discussed international security, trade barriers, climate change and human rights, the statement said.

— Lee Ying Shan

The International Monetary Fund has supported the Bank of Japan’s latest decision to expand yield controls.

“With uncertainty surrounding inflation, the Bank of Japan’s adjustment of the yield curve is an important step amid concerns about the performance of the bond market,” he said. Ranil Salgado, head of mission in Japan at the IMF.

Salgado added that clearer communication about changes in the central bank’s monetary policy could improve the credibility of the BOJ and “add to market expectations,” he said.

– Jihye Lee

Destination Wealth CEO Michael Yoshikami said he expects “tremendous” market volatility in 2023, but investors don’t need to stay on the sidelines.

“Boring. That’s the key,” he said. “The other option is that you withdraw the money from the market, put it in cash until the market recovers. So this is a way for you to stay in the market in a more protected name while you can participate in the market if it goes up.”

He named six great stocks that investors can take refuge in.

Pro customers can read more here.

— Zavier Ong

South Korea’s producer prices rose 6.3% in November from a year ago, marking the slowest increase since April 2021 and marking the fifth consecutive decline.

Compared to a month ago, the index fell by 0.2%, driven by lower prices of agricultural products.

The producer price index is a measure of what companies are getting for their products in the pipeline.

— Lee Ying Shan

The Conference Board’s consumer confidence index jumped to 108.3 in December from 101.4 in November, the StreetAccount consensus estimate increased to 100.5. This number was also the highest in the index since April.

“Inflation expectations fell in December to the lowest level since September 2021, with the recent drop in gas prices a key driver. vacation plans but plans to buy homes and big-ticket items are cooling,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.

“This shift in consumer preferences from large goods to services will continue in 2023, as will rising costs and rising interest rates,” Franco said.

— Fred Imbert

The stock rose for a second day on Wednesday after results from Nike and FedEx.

The Dow Jones Industrial Average gained 526.74 points, or 1.6%, to end at 33,376.48. The S&P 500 rose 1.49% to settle at 3,878.44, while the Nasdaq Composite jumped 1.54% to end at 10,709.37.

— Samantha Subin